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By early June, the requirements of Liucheng-Wuling Group, General Motors and Modu Automobile Group had been fully met, and the acquisition process came to a successful conclusion.

Xia Jingxing went to Liucheng again and signed an equity transfer agreement with the original three-party shareholders of SAIC-GM-Wuling.

Fuxing Automobile Group spent a total of 15 billion yuan to acquire 100% of the shares of SAIC-GM-Wuling and officially changed its name to Fuxing-Wuling. At this point, Wuling became a sub-brand of Fuxing Automobile.

This acquisition price is not high, because Wuling Motors' net profit last year reached the level of 1 billion yuan.

Compared with previous generations, GM only spent US$51 million (approximately 340 million yuan) to acquire 10% of SAIC-GM-Wuling's shares. This acquisition price is considered high.

Because when GM acquired the shares, it also gave away car technology.

How much is this technology worth exactly?

Based on Xia Jingxing’s purchase price, it is worth at least 1.2 billion yuan.

However, in the technology licensing agreement subsequently signed between Xia Jingxing and GM, GM only received a technology licensing fee of RMB 1 billion.

This was not a friendly price. On the contrary, it was ripped off by GM.

This can also be regarded as one of the conditions in exchange for GM's concession and transfer of equity.

It can also be seen from this that in the previous life, Guizhou Province paid a huge price to launch the Baojun brand.

At the same time, Fuxing Motor also fulfilled its commitment to Liucheng and Guizhou Province to invest 10 billion yuan to help Wuling enter the sedan market.

However, this 10 billion will not be received at once. Only 4 billion will be received in the first batch.

With Fuxing Auto not even coming out yet, Wuling still has to build fuel vehicles for a few more years.

Moreover, Wuling is now very famous in the mini car market, but it has not even launched a car in the sedan and SUV markets.

The launch of Baojun can be regarded as filling Wuling's gap in this automobile segment. It is also Wuling's attempt to move from the low-end market to the high-end market.

Although it is said to be a high-end market, it is not actually high-end. It’s just that compared to the Wuling series priced at 30,000 to 50,000 yuan, the Baojun series priced at 40,000 to 90,000 yuan is more high-end.

However, in the car field, Baojun is at the bottom again.

This is also the current situation and dilemma of domestically produced cars, which generally sell for less than 100,000 yuan.

The range of 100,000 to 300,000 yuan is firmly occupied by various joint venture brands.

Not to mention those that cost more than 300,000 yuan. Before the launch of Weilai, no domestic brand had easily tried it.

Xia Jingxing promised to invest 10 billion yuan in Guangxi Province, and this money was mainly invested in Baojun.

The Wuling brand is selling very well, and the Shenche will be released soon. Xia Jingxing doesn't need to worry too much. He can just use the Dongfeng of Shenche to launch the Hongguang miniev in the future.

Needless to say, Fuxing Automobile and Fuxing Mobile have already established the Fuxing brand, and automobile brands are also moving towards the high end.

But Xia Jingxing knows his own business, and the brand of cars is no better than that of mobile phones, so it is difficult to build a brand image.

Not to mention foreigners, even in the eyes of the Chinese themselves, domestically produced cars have always been uninteresting.

In the century-old automobile industry, technology is sometimes difficult to catch up with, and brand image cannot be reversed overnight.

Therefore, if Fuxing Automobile Group wants to succeed in the coming new energy era, it must focus on cutting-edge technology, sales volume, revenue and profit volume, and must be strong in all.

Successful automakers such as Toyota and Volkswagen have already laid the groundwork for a multi-brand strategy.

Relying on one brand to dominate the world will never be able to take into account both sales volume and brand.

After the acquisition of Wuling and the smooth launch of Fuxing Motors, the entire Fuxing Motor Group will become a brand with two big ends and a small one in the middle, lacking penetration into the mid-range market.

Strictly speaking, Baojun is still a bit uninteresting, and it is difficult to undertake the task of entering the mid-range market.

Of course, this is based on past life experience.

Now Xia Jingxing has invested tens of billions of yuan to build Baojun, hoping to make it a benchmark for domestic entry-level cars, just like Wuling is so popular in the mini-car market.

Don’t seek the best, but at least achieve the best in the price range of RMB 40,000 to RMB 90,000 to create a good brand image.

When the new energy wave arrives, Baojun can further narrow the gap with BMW and strive to sell it in the RMB 100,000-200,000 range.

Just like BYD, the F3, the first car launched in 2005, was priced at tens of thousands of yuan and was criticized by consumers.

However, BYD's brand image has become more and more high-end through continuous improvement of technology. It has begun to sell for more than 100,000 to 200,000 yuan, and consumers can accept it.

Xia Jingxing feels that BYD's successful promotion path is of great reference value.

What Baojun has to do now is to lay the foundation. At least let domestic consumers know that there is such a number one brand, and it has a good reputation. Although it is not high-end, it is economical, durable and of excellent quality.

At the same time, Fuxing Automobile also needs to accelerate the pace of scientific research, launch high-end cars as soon as possible, and gain a foothold in the industry. In the future, it will also export technology to Baojun.

Baojun has achieved its goal of entering the mid-range automobile market by relying on the good reputation accumulated in the era of fuel vehicles, coupled with the new energy technology exported by Fuxing Automobile, as well as the capital strength and supply chain advantages exported by Fuxing Industrial's entire system.

At this point, Fuxing Automobile Group's brand and layout in the new energy era have been roughly formed.

Among them, Fuxing Automobile is focusing on the high-end luxury market, making cars with a price of more than 300,000 yuan, and maintaining a strong brand;

Baojun is in the mid-range car market worth 100,000-200,000 yuan, which is a battleground for automobile giants. Large volume multiplied by medium profit equals large profit;

Wuling focuses on making micro and low-end electric vehicles within 100,000 yuan, and feeds back the group's automotive-related industries through ultra-high sales, such as automotive chips, vehicle systems, batteries, etc.

…………

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After dealing with Wuling's affairs, Xia Jingxing returned to Shanghai and began to prepare for the chip industry conference.

Deng Yuanjun has been in charge of this matter, and preparations have been in full swing more than a month ago. The preparations have been basically completed, and this grand event will be officially launched in a few days.

Before the official meeting, Xia Jingxing took the time to attend the celebration ceremony for Huaxin International's mass production of Spreadtrum Communications sc6600l baseband chip.

This is the first chip developed and designed by Fuxing Semiconductor Group to be mass-produced by Huaxin International. The IDM road has finally taken the first step, and it also means that the semiconductor industry has officially begun to integrate, which is of milestone significance.

Liang Mengsong, Zhang Rujing, Deng Yuanyun, and Li Liyou were present to congratulate on behalf of Fuxing Semiconductor, Huaxin International, Fuxing Industrial, and Spreadtrum Communications respectively.

At the hotel table, Xia Jingxing picked up the wine glass with a smile on his face and said: "I would like to toast everyone. As one of the few IDM manufacturers in the country, Fuxing Semiconductor only had a name in vain before, but from today on, history will begin." It's a new page.

Perhaps the process technology we have mastered is not advanced enough, and the performance of the chip we designed is not good enough, but at least we have solved the "none" problem.

The next step is to work hard. There are still nine years until Fuxing Semiconductor becomes a Fortune 500 company.

Renaissance Semiconductor wants to fight for China's semiconductors, and I also want to fulfill my promise. "

Xia Jingxing glanced at everyone present and saw different expressions of excitement, joy, desire, etc. on each face.

Nowadays, the best and most talented people in China's semiconductor industry have gathered under their command.

Whether you can create miracles and surpass the semiconductor development speed of previous generations, the responsibility falls on your shoulders.

Xia Jingxing felt a heavy responsibility, and at the same time he felt his blood burning. He instantly had an indescribable sense of mission.

“On the road ahead, challenges and opportunities coexist. Everyone here has the opportunity to become the protagonist of this era and carve your name on the monument of China’s semiconductors!

Every step we take is to help the country gain an advantage in international competition and help the nation expand an inch of living space in a new era where the smoke of war cannot be seen.

I have a good heart, and even though I died nine times, I still have no regrets!

I hope that each of us can carry forward the pride of the ancients and use our courage and wisdom to light up China’s technological canopy. "

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